Armenia to receive $400 million loan to build railway to Iran

YEREVAN. April 21. KAZINFORM. Armenia has reached an agreement with Iran on a $400 million loan for the construction of a railway between the two countries, the Armenian transport minister, Gurgen Sargsyan, said on Monday; Kazinform refers to RIA Novosti.
None
None
An agreement on the construction of the strategic route was signed by Armenia's Sargsyan and his Iranian counterpart, Hamed Behbahani, on April 14 in Tehran. A working group will take about three months to carry out a feasibility study. "In addition, Armenia is in negotiations with the Asian Development Bank, the World Bank and other concerned parties," Sargsyan told journalists. The construction of the 500-kilometer (310-mile) railway, with 60 kilometers (37 miles) in Iranian territory, is expected to take at least five years and cost $1.5-$1.8 billion; Kazinform cites RIA Novosti. See www.en.rian.ru for full version.
Currently reading